Bank of Montreal Can Increases Position in IDACORP Inc (IDA)

Bank of Montreal Can increased its stake in IDACORP Inc (NYSE:IDA) by 112.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 72,221 shares of the coal producer’s stock after acquiring an additional 38,288 shares during the period. Bank of Montreal Can’s holdings in IDACORP were worth $7,165,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in IDA. People s United Financial Inc. bought a new stake in IDACORP in the second quarter worth $2,767,000. Radnor Capital Management LLC bought a new stake in IDACORP in the third quarter worth $204,000. HL Financial Services LLC bought a new stake in IDACORP in the second quarter worth $203,000. Ferguson Wellman Capital Management Inc. bought a new stake in IDACORP in the second quarter worth $203,000. Finally, First Citizens Bank & Trust Co. bought a new stake in IDACORP in the second quarter worth $221,000. Institutional investors own 78.40% of the company’s stock.

Several analysts have weighed in on the stock. Zacks Investment Research downgraded shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Monday, July 23rd. ValuEngine raised shares of IDACORP from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. Finally, Wells Fargo & Co boosted their price target on shares of IDACORP from $95.00 to $96.00 and gave the stock a “market perform” rating in a research note on Monday, September 17th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $92.00.

Shares of NYSE:IDA opened at $95.05 on Tuesday. The stock has a market cap of $4.78 billion, a PE ratio of 22.58, a PEG ratio of 7.97 and a beta of 0.27. The company has a quick ratio of 1.73, a current ratio of 2.27 and a debt-to-equity ratio of 0.80. IDACORP Inc has a 12 month low of $79.59 and a 12 month high of $101.89.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, August 2nd. The coal producer reported $1.23 EPS for the quarter, beating the consensus estimate of $1.11 by $0.12. The firm had revenue of $339.95 million during the quarter, compared to the consensus estimate of $328.74 million. IDACORP had a net margin of 16.71% and a return on equity of 10.05%. During the same period in the prior year, the firm posted $0.99 earnings per share. On average, equities analysts anticipate that IDACORP Inc will post 4.28 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Monday, November 5th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.65%. This is an increase from IDACORP’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Friday, November 2nd. IDACORP’s dividend payout ratio is 56.06%.

About IDACORP

IDACORP, Inc, through its subsidiary, Idaho Power Company, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. It operates 17 hydroelectric generating plants located in southern Idaho and eastern Oregon, as well as 3 natural gas-fired plants in southern Idaho; and owns interests in 3 coal-fired steam electric generating plants located in Wyoming, Nevada, and Oregon.

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Institutional Ownership by Quarter for IDACORP (NYSE:IDA)

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